Canaccord maintains Tesla stock Buy rating, $404 target

Tesla (NASDAQ:TSLA)’s stock performance and company outlook continue to be closely monitored by investors and analysts alike. The company’s progress in autonomous driving technology is particularly under scrutiny, as it could have significant implications for Tesla’s future growth and the broader automotive industry. Despite near-term challenges, Tesla maintains strong financial health according to InvestingPro analysis, with more cash than debt and a robust 103% return over the past year.While Canaccord Genuity’s report acknowledges some immediate challenges, the firm’s reiteration of a Buy rating and a $404.00 price target suggests confidence in Tesla’s ability to overcome near-term obstacles and capitalize on its AV and robotics initiatives. The anticipated deployment of Tesla’s unsupervised vehicles in Austin represents a critical milestone for the company as it advances its technology in a highly competitive market.

Tesla’s stock performance and company outlook continue to be closely monitored by investors and analysts alike. The company’s progress in autonomous driving technology is particularly under scrutiny, as it could have significant implications for Tesla’s future growth and the broader automotive industry. Despite near-term challenges, Tesla maintains strong financial health according to InvestingPro analysis, with more cash than debt and a robust 103% return over the past year.While Canaccord Genuity’s report acknowledges some immediate challenges, the firm’s reiteration of a Buy rating and a $404.00 price target suggests confidence in Tesla’s ability to overcome near-term obstacles and capitalize on its AV and robotics initiatives. The anticipated deployment of Tesla’s unsupervised vehicles in Austin represents a critical milestone for the company as it advances its technology in a highly competitive market.

Tesla’s stock performance and company outlook continue to be closely monitored by investors and analysts alike. The company’s progress in autonomous driving technology is particularly under scrutiny, as it could have significant implications for Tesla’s future growth and the broader automotive industry.

While Canaccord Genuity’s report acknowledges some immediate challenges, the firm’s reiteration of a Buy rating and a $404.00 price target suggests confidence in Tesla’s ability to overcome near-term obstacles and capitalize on its AV and robotics initiatives. The anticipated deployment of Tesla’s unsupervised vehicles in Austin represents a critical milestone for the company as it advances its technology in a highly competitive market.

In other recent news, Tesla revealed its fourth-quarter and full-year 2024 financials, reporting an annual revenue of $97.15 billion. Despite the company’s gross margin of 18.23% falling short of analyst forecasts, Tesla maintains strong financials with more than $2 billion in free cash flow. Analysts from Piper Sandler, Baird, Jefferies, and Cantor Fitzgerald have maintained their respective price targets on Tesla’s stock, reflecting varying degrees of optimism about the company’s future performance. Morgan Stanley (NYSE:MS) has reaffirmed its overweight rating for Tesla, emphasizing the company’s potential in the field of embodied artificial intelligence.

In terms of recent developments, Tesla has introduced a new autonomous driving feature within its Fremont facility, indicating a step towards full self-driving capabilities. However, this feature is currently limited to a controlled environment within Tesla’s premises. The company is also facing a complaint from the Union of Swedish Electricians over alleged unauthorized electrical work at its charging stations. In addition, Tesla, along with BMW (ETR:BMWG) and several Chinese manufacturers, is challenging the European Union’s tariffs on China-made electric vehicles. These developments provide a snapshot of Tesla’s current activities and market position.

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